Meet 'Ben' Jiabao
GlobalMarkets, is part of the Delinian Group, DELINIAN (GLOBALCAPITAL) LIMITED, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 15236213
Copyright © DELINIAN (GLOBALCAPITAL) LIMITED and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Emerging Markets

Meet 'Ben' Jiabao

Can a Ben Bernanke/Wen Jiabao put save the global economy?

And now for some light relief this Friday afternoon. 

The will-China-save-Europe-and-invest-in-the-EFSF narrative has dominated the headlines today as Merkel took the eurozone begging bowl to a business forum in the southern province of Guangdong.  Cue a deluge of articles on the political quid pro quos on offer, the incentive structure behind the EFSF, etc.

But let's not forget: with the ECB publicly ruling itself out as the liquidity lender of last resort for sovereign balance sheets - notwithstanding LTRO - perhaps Chinese premier Wen Jiabao should take a lesson from Fed governor Ben Bernanke, who has thrown everything but the kitchen sink at reducing US government borrowing costs and reflating banks. (Seemingly with a modicum of success if today's US non-farm payrolls are anything to go by.) 


So without further ado, meet the saviour of the global economy: Ben Jiabao.

bernanke-jiabao20-20morphthing.jpg

 

Brace yourselves for the Ben Jiabao put...


* Forgive this reporter's poor production skills, but you get our drift, and they both look surprisingly similar, no? 


** We are also aware of the double-meaning of the word  'Ben' in Mandarin; for the record, we are not attempting to cast any aspersions on the Chinese premier's intelligence. Honest.


Further reading:

China's Wen Tamps Down Concerns Over Europe Aid - WSJ

Gift this article